Bank of England rate cuts deliver £11 billion hit to households
Those reductions hit savers hard as banks and building societies were quick to respond by lowering rates paid on customer deposits.
MAS keeps Singapore dollar policy unchanged amid US tariff risks to economy
“Our 2025 and 2026 GDP growth forecasts for Singapore currently stand at 2.1 per cent and 2.5 per cent respectively, but the caveat is that US tariffs may have irrevocably shifted global economic dynamics.”
Property stamp duty takings up 9.5% at S$6.4 billion in FY2024 after two years of declines
The FY2024 total, based on revised unaudited estimates from the Accountant-General’s Department, is 12 per cent higher than an earlier projection of S$5.7 billion for the period April 2024 to March 2025.
Property ‘decoupling’ illegal if done solely to avoid taxes: High Court
For instance, if the 1 per cent owner gave up the share but had an arrangement to still co-own the same property, the individual would be deemed to have evaded tax by wrongful declaration of ownership interests.
UOB to trim deposit rates on flagship account from Sept 1 after OCBC cut; DBS stays unchanged
The affected categories are: Card spend and the requirement to make three debit transactions via Giro; and card spend and salary credit.
Trump modifies reciprocal tariffs ahead of deadline; rate on Singapore remains at 10%
Most of the tariffs will take effect after midnight on Aug 7, to allow time for US Customs and Border Protection to make the necessary changes to collect the levies.
Japan alarmed over recent FX moves, its finance minister says
Authorities have been alarmed over recent foreign exchange moves, after the yen fell to four-month lows against the US dollar.
More than $1.7 million lost in scams using fraudulent mobile apps
Victims were told to download and set up accounts on fraudulent mobile apps such as Dyreka, M Tree PE, Saftools and Tik StoreB2B.
Most Singaporeans are unprepared and underinsured for long-term care: Singlife
While long-term care costs close to S$3,000 a month on average, the insurance provider finds that more than half of those surveyed underestimate the amount
Economists split on Singapore monetary policy after surprise growth
It adjusts policy via three levers: the slope, mid-point and width of the policy band. Maybank economists expect MAS to maintain policy given the improved economic outlook.
HDB resale price growth moderates in Q2, more flats sold
This marked the third consecutive quarter of a moderation in price growth, and is the lowest quarter-on-quarter growth since the second quarter of 2020,
GIC posts 3.8% annualised real return over 20 years despite economic uncertainties
Without adjusting for inflation, GIC’s annualised return came in at 5.7 per cent over the same 20-year period. This is expressed in US dollars.